Re:Tether starting to lose its peg too, after Terra did
by FireBeyond on Thursday May 12, 2022 @03:07PM
(#31358794)
> and honestly I can't see how the possibly could have adequate reserves
Not even close, even now. And the earlier stuff was almost insulting. Like the claim in 2019 that they were depositing $3.5 BILLION, per WEEK, into a bank, a deposit rate that would exceed AT&T, Samsung, Alphabet (Google).
Hah. No. The bank "deputy CEO" (who was 33) in an interview noted that the Bahamas had two banking licenses. But couldn't name them. And in any case, wasn't sure which his bank had, but he knew they had one of them. "And possibly the other".
Not even close, even now. And the earlier stuff was almost insulting. Like the claim in 2019 that they were depositing $3.5 BILLION, per WEEK, into a bank, a deposit rate that would exceed AT&T, Samsung, Alphabet (Google).
Hah. No. The bank "deputy CEO" (who was 33) in an interview noted that the Bahamas had two banking licenses. But couldn't name them. And in any case, wasn't sure which his bank had, but he knew they had one of them. "And possibly the other".